$STAF Pops Holds Fades

Identify The Trade

$STAF had a beautiful premarket chart as it popped up hard and fast right before the open. This made me interested in the stock right away as it was likely to have a hard pull-back.

Choose The Strategy

Because of past moves where this stock ran up fast and died down just as quickly, I was looking for something similar to happen. Without any major resistance to get an entry against, this was a more risky trade.

Setup, Entry and Exit

Execute The Trade

After the market open and the complete lack of volume and complete lack of buying, I got in on the lower-low and just rode the momentum downward. This was a very good Risk:Reward trade working out in only 20 minutes. A solid quickie that everyone loves.